State v. Coppermines Co.

Citations

• 25 Del. 400
• 2 Boyce 400
• 80 A. 145
• 1911 Del. LEXIS 54

Syllabus

<p>Taxation — Assessment—Assessment of Corporate Property — Statutes — Construction.</p> <p>21 Del. Laws, c. 166, entitled “An act to raise revenue by taxing certain corporations,” requires every corporation to file with the Secretary of State an annual report stating the amount of its capital and other matters required for the information of the Secretary of State in determining the basis of its franchise taxation, and on failure to make such report the Secretary of State may fix the amount of the franchise taxes in whatever manner he may deem practical.' The statute also provides that the Secretary of State shall certify and report to the Treasurer the statement of the basis of the annual license fee and the amount of tax due thereon; such tax, when determined, being a debt from the corporation upon which an action at law may be maintained. A corporation whose capital stock had been $60,000,000, during most of the year reported it as $5,000,000; the report being made just previous to a reduction to that amount. Held, that the Secretary of State was not concluded by the report of such corporation.</p>